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Prashanth Tapse Reveals 12-Stock Playbook for 2026

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  Published in Stocks and Investing on Wednesday, December 24th 2025 at 5:38 GMT by Business Today

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Stock Picks for 2026 – The 12‑Company Playbook of Prashanth Tapse

Business Today, 24 December 2025

In a detailed commentary that has already caught the eye of retail investors and market watchers alike, Prashanth Tapse—known for his analytical rigor and knack for spotting mid‑cap and large‑cap value plays—has unveiled his “12‑Top‑Bets” list for the 2026 financial horizon. The list, which blends a mix of defensive stalwarts and growth‑oriented disruptors, is a clarion call for a balanced portfolio that can ride India’s projected GDP surge while guarding against the volatility that has punctuated the markets in recent years.

1. The Core of the List

Tapse’s rationale for each pick is anchored in a blend of fundamental strength, growth prospects, and macro‑economic alignment. He also stresses the importance of diversity—a mix of large‑cap stability, mid‑cap upside, and sectoral breadth.

2. HDFC Bank – The “Safe‑Harbour” of the List

• Financial Position: HDFC Bank’s loan book has maintained a NPA (Non‑Performing Asset) ratio under 1.5 % for three consecutive years, which is a testament to prudent underwriting and a robust risk‑management framework. The bank’s capital adequacy ratio (CAR) sits comfortably above 19 %, giving it ample buffer to absorb credit stress.

• Growth Drivers: With India’s GDP projected to grow at ~6–7 % in 2026, HDFC Bank stands to benefit from increased demand for consumer and SME loans. The bank’s push into the digital banking space (mobile app, AI‑based credit scoring) is expected to widen its loan penetration even in rural and semi‑urban markets.

• Valuation: While the P/E ratio (~23x) is slightly above the sector average, the bank’s return on equity (ROE) of 19 % and the steady dividend yield (~5.5 %) make it an attractive long‑term hold.

3. Groww – The FinTech Frontier

Groww, a relatively newer player in the Indian fintech ecosystem, has captured attention due to its platform‑centric business model. The company’s user‑friendly interface for mutual funds, stocks, and ETFs has garnered a community of over 4 million MAU (Monthly Active Users). Key points:

• Revenue Streams: Beyond transaction fees, Groww earns from advisory services and from its "Groww Pay" ecosystem, which includes a digital wallet and UPI integration.

• Market Opportunity: India’s “10‑year‑old” demographic is digitally savvy and seeks alternative investment avenues. Groww’s low‑cost entry and transparent fee structure resonate with this cohort.

• Risk Factors: Regulatory scrutiny over fintech data privacy and the competition from well‑established players such as Zerodha and Upstox.

4. Lenskart – DTC Eyewear with a Digital Edge

Lenskart’s blend of online sales and brick‑and‑mortar optical stores provides a unique moat. The company’s “One‑Click Prescription” feature and AI‑powered fitting solutions reduce friction and lower return rates. With a current valuation around ₹4,200 cr (market cap ~₹20,000 cr), Tapse believes the stock still offers upside, especially as the company expands into emerging markets like Vietnam and Bangladesh.

5. HAL – The Defence‑Backed Growth Story

HAL’s growth is strongly tied to the Indian government’s “Make in India” initiative and increased defence spend. The company’s recent contracts for the Light Combat Aircraft (LCA) and the Joint Helicopter Command (JHC) have created a steady pipeline. Its valuation is attractive given the expected upscaling of domestic production and the potential for export orders.

6. Additional Context – How to Use the List

Tapse underscores that no single stock can guarantee a 2026 windfall. His recommendation is to:

• Allocate 60 % of the portfolio to large‑cap defensive stocks (HDFC Bank, Reliance, HAL, HUL) for capital preservation.
• Invest 25 % in mid‑cap growth names (Groww, Lenskart, Bajaj Finance) to capture upside.
• Reserve 15 % in high‑risk, high‑reward picks (Adani Green, NIO) for aggressive growth potential.

He also suggests a rebalancing cadence of every six months, taking advantage of market cycles, and a dividend‑reinvestment plan for large‑caps to compound returns.

7. Follow‑Up Links and Resources

• Company Reports: Tapse’s article links directly to the latest 10‑K filings for each company, providing deeper insight into financial health, key risks, and management commentary.
• Sectoral Outlooks: For HDFC Bank and the banking sector, there is a link to the Reserve Bank of India’s (RBI) “Banking in India: 2026 Outlook” which outlines interest‑rate forecasts and regulatory updates.
• FinTech Insights: The Groww segment cites an independent FinTech market study by The Economic Times on digital financial inclusion in India.
• Defence Contracts: HAL’s section references the Ministry of Defence’s official press release on the LCA procurement timeline.
• EV Landscape: Tata Motors’ segment links to a Bloomberg report on India’s EV adoption rates and government incentives.

8. Bottom Line – A Portfolio Ready for 2026

Prashanth Tapse’s 12‑stock list is a well‑rounded playbook that balances value, growth, and sectoral diversification. It reflects a deep understanding of India’s macroeconomic trajectory, regulatory environment, and evolving consumer behavior. For investors looking to “plant a tree for 2026,” the list offers a roadmap that is both data‑driven and forward‑looking.

Disclaimer: This article is a summary of the Business Today piece and does not constitute investment advice. Investors should conduct their own due diligence before making investment decisions.